The world is much closer to running out of oil than official estimates admit, according to a whistleblower at the International Energy Agency who claims it has been deliberately underplaying a looming shortage for fear of triggering panic buying.

The amount of proven oil reserves awaiting to be exploited fell last year for the first time in a decade, according to the BP figures. The amount of crude left in the ground was 1.258trn barrels - 3bn less than last year.

These figures, revealed in the BP Statistical Review of World Energy, are probably the result of a slump in drilling activity due to a fall in the price of oil last year - from $150 per barrel to $30.

At today's rate of use however there is still enough oil to last the next 42 years, according to the oil company although those concerned about Peak Oil say we are closer to running out given demand is expected to rise strongly in the short-term.

BP's Statistical Review is used extensively by OPEC and others in the industry as a key text. This year's review shows coal consumption continuing to soar, especially in China, a 70% year-on-year increase in solar capacity and contains a host of other energy gems.

We've extracted just a couple of bits for you - including the data below. Let us know what you do with it.